The business plan capitalizes on the booming rental market and also helps South Floridians hurt by the housing collapse, said Negrete, one of a handful of Mexican businessmen who started Vulcan.

“People have problems getting a new mortgage,” he said. “Now they can take some time to fix their credit scores.”

Other investment firms are using similar strategies. The Blackstone Group in New York is buying an undisclosed number of homes in at least 10 markets across the country. Blackstone is buying in the Tampa area, but not South Florida, spokesman Peter Rose said.

A Palm Beach mansion once owned by Donald Trump sold in 2008 for $95 million, making it the highest-priced home ever sold in Palm Beach County, according to the Property Appraiser's office. Here are other top-dollar properties sold in Palm Beach and Broward counties through the years.